On June 5, CNPC issued CNPC Green, Low-carbon Development Plan 3.0, calling for: 1) increasing capacity proportion of new energy resources to 7% by 2025 via promoting businesses related to geothermal energy, clean electricity, hydrogen energy, CCS/CCUS, etc.; 2) achieving a goal that new energy business will be one of three major businesses of CNPC by 2035; 3) making thermal, electric and hydrogen energy businesses account for around 50% in CNPC’s business structure by 2050.

Further, the company will speed up reduction of greenhouse gas emissions, trying to make the emissions peak in around 2025, then decrease 20% in 2035 from 2025’s level, and reach “near zero” in 2050. Compared with 2020, carbon emission intensity of energy products will be down 30% in 2035 and down 55% in 2050.